What do Mavericks legend Dirk Nowitzki and jewelry maven Kendra Scott have in common? They both clearly see a bright future for warm cookie delivery service Tiff’s Treats.
The Austin-based company raised $15 million in it’s latest funding round that lasted only a month.
The latest funding round was led by Venturi Private Wealth and included high profile investors including Nowitzki and Scott, according to the company.
In a statement, Nowitzki said he’s “excited to be part of team Tiff’s Treats.” Scott voiced admiration for founders Tiff and Leon in a statement, saying “they have been a beacon of joy, celebration and philanthropy in our community, and I am honored to join them as they continue to expand that effort nationwide.
The millions raised in June will fuel the company’s further expansion into additional U.S. markets, according to the company.
Tiff’s has plans to expand into new states in the next year or two, the Tiff’s founders said. And the company is opening new locations in Fort Worth and Prosper “very soon.” They eventually plan to operate nationwide but don’t yet have a timeline.
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“We’ve always been the kind of company that’s not going to grow for growth’s sake,” Leon Chen.
The delivery service has, however, seen a promising uptick in sales since March, according to Chen.
“It’s a challenging time for anybody in business right now, but because of our delivery model... we have seen that need out there from customers,” Tiffany Chen said. “Especially during the lockdown when you couldn’t see your friends or your loved ones, you couldn’t celebrate a birthday... people have a need to connect with each other.”
The company has added 500 jobs since the beginning of the pandemic’s impact on the U.S. and now employs more than 1,400. It’s also committed $1 million to workers in the form of bonuses, raises and a new paid time off benefit for its hourly employees, according to Tiff’s Treats.
Tiffany and Leon Chen started the business as students at the University of Texas at Austin in 1999 and reached profitability sometime after 2010.
The company opened its first store in Austin in 2003 and in Dallas in 2006. It now operates 15 store location in Dallas-Fort Worth and a total of 59 across Texas, Georgia, Tennessee and North Carolina.
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